Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/146771
Authors: 
Markwardt, Gunther
Seidel, André
Thum, Marcel
Year of Publication: 
2016
Series/Report no.: 
CEPIE Working Paper 04/16
Abstract: 
We have developed a computerized version of Charles Holt’s classical market game that can be used even in classes with a large audience. The Pit market game gives students intuitive access to the interaction of supply and demand in real-world markets. Even though trade can take place at non-uniform prices in the classroom game, the average price and the quantity traded are usually very close to the equilibrium values predicted by supply and demand curves. The classroom game can also be used for a lively discussion about the efficiency of markets or to show the consequences of taxes and regulatory interventions.
Subjects: 
Pit Market
Market Game
Classroom Game
Economic Education
Supply and Demand
Pit Market
Angebot und Nachfrage
Marktspiel
JEL: 
A22
C88
D01
D40
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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